發(fā)布時(shí)間：2018-01-16 16:07

  本文關(guān)鍵詞：供應(yīng)鏈縱向融資下聯(lián)貸聯(lián)保與商業(yè)信用融資比較　出處：《華中科技大學(xué)》2012年碩士論文　論文類型：學(xué)位論文

  更多相關(guān)文章： 聯(lián)貸聯(lián)保 商業(yè)信用融資 最優(yōu)訂貨量 風(fēng)險(xiǎn)中性利率定價(jià) 供應(yīng)鏈績(jī)效

【摘要】：供應(yīng)鏈金融已成為供應(yīng)鏈管理研究的重要領(lǐng)域之一。同時(shí)，供應(yīng)鏈上資金約束是影響供應(yīng)鏈績(jī)效的重要因素。目前，供應(yīng)鏈上資金約束大多集中在中小企業(yè)。中小企業(yè)是我國(guó)特色社會(huì)經(jīng)濟(jì)體系的重要組成部分，同時(shí)是社會(huì)主義市場(chǎng)經(jīng)濟(jì)中最具有活力的群體。隨著我國(guó)經(jīng)濟(jì)進(jìn)入轉(zhuǎn)型時(shí)期，中小企業(yè)逐漸成為中國(guó)經(jīng)濟(jì)增長(zhǎng)的重要增長(zhǎng)點(diǎn)。由于我國(guó)金融體系的原因，，金融機(jī)構(gòu)對(duì)中小企業(yè)的融資設(shè)有較高的門檻。因此這一現(xiàn)象逐漸形成中小企業(yè)的融資難和融資貴的問(wèn)題。針對(duì)這些問(wèn)題，聯(lián)貸聯(lián)保等一系列新的金融融資模式的產(chǎn)生在很大程度上緩解了中小企業(yè)融資問(wèn)題。商業(yè)信用融資是一種廣泛運(yùn)用的短期資金融通形式。在某種程度上聯(lián)貸聯(lián)保和商業(yè)信用融資有很多相同之處。本文以資金約束的報(bào)童模型為基礎(chǔ)，從供應(yīng)鏈角度上研究?jī)煞N融資方式對(duì)供應(yīng)鏈績(jī)效產(chǎn)生的影響。 本文研究了由一個(gè)供應(yīng)商和一個(gè)零售商組成的供應(yīng)鏈中聯(lián)貸聯(lián)保和商業(yè)信用融資這兩種融資方式對(duì)供應(yīng)鏈上績(jī)效的影響。本文商業(yè)信用融資中，供應(yīng)商根據(jù)兩種方式來(lái)制定利率。一種是供應(yīng)商根據(jù)風(fēng)險(xiǎn)中性對(duì)利率進(jìn)行定價(jià)。另一種是根據(jù)供應(yīng)商自身收益最大化來(lái)制定利率。通過(guò)對(duì)兩種融資模式的比較，我們可以看出兩種融資模式下，零售商的最優(yōu)訂貨量與自有資金和銀行利率成遞減關(guān)系。本文研究表明在零售商按照風(fēng)險(xiǎn)中性對(duì)利率進(jìn)行定價(jià)時(shí)，商業(yè)信用融資下零售商和整條鏈與聯(lián)貸聯(lián)保相比能夠取得更高收益。在另外一種定價(jià)模式下，兩種融資模式對(duì)供應(yīng)鏈的績(jī)效與零售商的自有資金相關(guān)。
[Abstract]:Supply chain finance has become one of the important research fields of supply chain management. At the same time, financial constraints on supply chain are the important factors that affect the performance of supply chain. Most of the capital constraints in the supply chain are concentrated in the small and medium-sized enterprises, which are an important part of the social and economic system with Chinese characteristics. At the same time, it is the most dynamic group in the socialist market economy. With China's economy entering the transition period, small and medium-sized enterprises have gradually become an important growth point of China's economic growth. Because of the reasons of China's financial system. Financial institutions have a higher threshold for SME financing. Therefore, this phenomenon is gradually forming the financing difficulties and financing expensive problems of SMEs. The emergence of a series of new financial financing models, such as joint loan protection, has greatly alleviated the financing problem of small and medium enterprises. Commercial credit financing is a widely used form of short-term financing. There are many similarities with commercial credit financing. This paper is based on the financial constraints of newsboy model. The effect of two financing methods on supply chain performance is studied from the point of view of supply chain. In this paper, we study the effects of two financing methods, which are the joint loan guarantee and the commercial credit financing, on the performance of the supply chain, which are composed of a supplier and a retailer. In this paper, we discuss the effect of the two financing methods on the performance of the supply chain. The supplier sets the interest rate according to two ways. One is that the supplier price the interest rate according to the risk neutral, the other is to set the interest rate according to the supplier's own profit maximization. We can see that the optimal order volume of retailers is decreasing with their own capital and bank interest rate under the two financing modes. This study shows that when retailers price interest rates according to risk neutrality. Under commercial credit financing, the retailer and the whole chain can achieve higher returns compared with the joint loan guarantee. In the other pricing mode, the performance of the two financing modes on the supply chain is related to the retailer's own capital.
【學(xué)位授予單位】：華中科技大學(xué)
【學(xué)位級(jí)別】：碩士
【學(xué)位授予年份】：2012
【分類號(hào)】：F274;F832;F224

【參考文獻(xiàn)】

相關(guān)期刊論文 前2條

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本文編號(hào)：1433817